In this study, settlement and seepage behavior of Muratli Dam, which is the first asphalt faced rockfill dam in Turkey, is investigated for the "end of construction" and "reservoir impoundment" loading conditions. Two dimensional plane strain finite element analyses are carried out in order to determine the total stresses, displacements and pore water pressures. Hardening soil model is used in order to represent the non-linear, inelastic and stress dependent behavior of rockfill material. Material model parameters are selected mainly referring to the previous studies on the dams consisting of similar materials and then back analyses are carried out to find the best fit. Calculated stresses, displacements and pore water pressures are compared with the observed values for both end of construction and reservoir filling conditions.